NZDUSD retest of 0.6240 is in the cards. Possibly even lower.
A weakness has been placed on this NZDUSD pair since mid-2014. As you can see from the chart above, the trend line that extends off of the 2000/2001 lows could come into play later this year if the current trajectory is any indication.
Is see this pair likely taking another shot at the trend line from 2000.
More immediately we have levels of support that are just as clearly defined on the daily chart, which come in at lows near 0.6240. And if last week's break is any indication, it's only a matter of time before these levels come under pressure.
Looking for opportunity to SELL until price reaches the trend line.
Is see this pair likely taking another shot at the trend line from 2000.
More immediately we have levels of support that are just as clearly defined on the daily chart, which come in at lows near 0.6240. And if last week's break is any indication, it's only a matter of time before these levels come under pressure.
Looking for opportunity to SELL until price reaches the trend line.
